TVS Motor achieved a 13% YoY growth with 391,588 units sold in August 2024 showing off strong growth both in 2W and EV sales along with improved exports
TVS Motor Company total sales of two and three wheelers in August 2024 escalated to 3,91,588 units. This was a 1.23% YoY growth as against 3,45,848 units sold in August 2023 relating to a volume increase of 45,740 units. Growth in sales numbers were recorded both in terms of two wheelers that include motorcycles and scooters while the company also saw its electric vehicles in high demand.
TVS Motor Sales – August 2024
TVS sold a total of 3,78,841 units of two wheelers in August 2024. This was a 14.07% YoY growth from 3,32,110 units sold in August 2023. The company registered a 12.52% improvement in sales in domestic markets to 2,89,073 units in August 2024 from 2,56,619 units sold in August 2023.
Speaking individually about the company’s motorcycle and scooter sales, motorcycle sales surged 11.39% YoY to 1,70,486 units in the past month from 1,53,047 units sold in the same month last year. This was a 17,439 unit volume improvement with motorcycles commanding a 45% share. Scooter sales on the other hand saw even more demand with sales rising 14.83% YoY to 1,63,629 units in August 2024. There had been 1,42,502 units sold in August 2023.
TVS also has the popular iQube electric scooter on offer. Sales of this e-scooter improved by 3.73% YoY to 24,779 units while commanding a 6.54% share on this list. Moped sales were also high with a 22.33% YoY growth to 44,726 units sold last month. Moped, that included the XL, commanded an 11.81% share in the company’s 2W portfolio.
Two wheeler shipments to global markets were up 18.91% in August 2024. The company exported 89,768 units in the past month. This was over 75,491 units shipped in August 2023 with exports commanding a 23.70% share. Three wheeler domestic sales also saw a significantly higher demand by 48.13% to 2,539 units in August 2024 from 1,714 units sold in August 2023. However, exports suffered a setback by 15.10% to just 10,208 units, down from 12,024 units shipped in August 2023.
Total domestic sales (2+3W) grew by 12.75% to 2,91,612 units. Exports (2+3W) saw an even higher percentage growth at 14.42% to 99,976 units. There had been 2,58,633 unit domestic sales and 87,515 units exported in the same month last year.
TVS Motor MoM Sales – August 2024 vs July 2024
As was seen on a YoY basis, TVS Motor also showed off strong month-on-month (MoM) performance with total 2+3 wheeler sales and exports up 10.57% from 3,54,140 units sold in July 2024. Total two wheeler sales (domestic + exports) were up 11.53% to 3,78,841 units in August 2024 over 3,39,676 units sold in July 2024.
This accounted for a 5.84% MoM improvement in motorcycle sales while scooter sales surged 16.88% over 1,39,995 units sold in July 2024. E-scooter sales and moped sales were also higher by 15.56% and 15.85% respectively. Total 2W domestic sales improved by 13.70% MoM while 2W exports saw a lower percentage improvement by 5.08%.
TVS 3W domestic sales improved by 10.34% MoM from 2,301 units sold in July 2024 while 3W exports suffered a 16.07% setback from 12,163 units shipped in July 2024 to 10,208 units in the past month. Lower exports resulted in lower total 3W sales down by 11.87%.
